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This October, I chaired the above workshop where a wide range of topics were presented to stimulate thought and debate as senior life actuaries focus on the usual year-end activities. Whilst a backdrop of mortality and economic uncertainty is the norm, this year there are more challenges than usual with: a buck in the trend for mortality improvements; the potential impact of Brexit; and the challenges arising from climate change. So the agenda for the day needed to cover a wide range of topics and subsequent attendee feedback has confirmed this approach was much appreciated.
On 17 September , I chaired a Sessional meeting for the Health and Care practice area. This is the fourth year we have run the “Hot topics in Health and Care” event covering three varied topics, where the author writes a short paper made available before the event and presents their findings in the evening.
The 2017 and 2018 hurricane seasons have again focussed the attention of the catastrophe risk management and insurance community on the topic of hurricane clustering in the North Atlantic. Have the most recent hurricane seasons caused us to update our view of clustering as a meteorological occurrence, and if so, in what ways? This takes place on the 29th November.
Dick Rae, Chair of the IFoA’s Finance and Investment Board considers the history of long-term investment ahead of the Autumn Lecture, delivered by Lord Myners next week.
Students at the IFoA may submit an appeal against an exam result decision if they think it is incorrect. If you are thinking about appealing please be aware of what grounds you can or can’t base this on.
The Pensions in a Global Context Working Party has used the World Bank pension policy framework to evaluate a range of pension system designs in seven countries around the world (Brazil, Canada, China, Germany, India, Nigeria and Sweden). The World Bank’s Five Pillar framework sets out primary evaluation criteria, which are adequacy, affordability, equity, predictability, sustainability and robustness.
The UN Intergovernmental Panel on Climate Change released a report last month warning that there is a very real risk that global warming could reach 1.5 degrees Celsius by as early as 2030. This poses significant risk to health, livelihood, food security, water supply, human security, and economic growth.
When properly insured individuals are injured in an accident, it is right that they are compensated for any resulting reduction in their quality of life. Institute and Faculty of Actuaries’ (IFoA) Public Affairs Manager Michael Williams blogs on the compensation solution that helps provide extra protections to injured individuals.
Tim Gordon, Chair of the CMI Mortality Projections Committee explains why providing more regular mortality analysis will help in the understanding of future longevity projections.
The IFoA IFRS 17 for General Insurers Working Party are hosting an interactive workshop that will work through the practical aspects of IFRS 17.
The workshop will split into groups to work through one of three case studies: personal lines, commercial lines, and inwards reinsurance. Each group will also look at the challenges of application topic by topic, e.g. contract boundaries, coverage units, PAA eligibility, among others.
Other actuary news
Added: Mon, 19/11/2018 - 17:10Solid economic growth and gradually rising interest rates will create a stable environment for Europe's insurance industry over the next year, Moody's Investors Service has predicted.
Added: Mon, 19/11/2018 - 15:35This month's deadly Californian wildfires are set to cost insurers up to $13bn (£10bn) amid widespread property damage and business interruption, risk modelling experts RMS estimate.
Added: Fri, 16/11/2018 - 17:20The UK government should consider multiple funding solutions to address the country's social care crisis, the Institute and Faculty of Actuaries (IFoA) has urged.
Added: Fri, 16/11/2018 - 15:00Pensions funds are responsible for the majority of capital held by the world's 100 largest asset owners (AO100), placing them among a unique group of investors that are too important to fail.
Added: Wed, 14/11/2018 - 17:00The value of bulk annuity transactions in the UK for 2019 is likely to be even higher than the record breaking total set this year, new research has found.
Added: Wed, 14/11/2018 - 14:40The International Accounting Standards Board (IASB) has today voted to delay the implementation deadline for IFRS 17 by one year to 1 January 2022.
Added: Tue, 13/11/2018 - 11:25Two in five British workers aged 46 to 55 do not know how much they have saved for retirement, despite closing in on the age they can access their pensions for the first time.
Added: Mon, 12/11/2018 - 15:00Cyber attacks are the greatest threat facing businesses in Europe, North America, East Asia and the Pacific, a worldwide survey of over 12,000 executives has found.
Added: Fri, 09/11/2018 - 14:30Italian insurance giant Generali has today announced that it will stop insuring the construction of new coal mines and plants as part of its commitment to tackling climate change.
Added: Wed, 07/11/2018 - 13:30Amazon is the platform most likely to cause widespread disruption to Europe's general insurance market over the next five years, a survey of insurers has found.